WABA Holds 78th Executive Council Meeting and 42nd General Assembly in Sierra Leone
By: Aaron Parker
The West African Bankers’ Association (WABA) convened its 78th Executive Council Meeting and 42nd General Assembly in Freetown, Sierra Leone. The event, hosted by the Sierra Leone Association of Commercial Banks (SLACB), took place from August 8th to 9th, 2024, at the Freetown International Conference Hall.
Key discussions during the event included panel sessions on IFRS 9 for Directors, the Cross-Border Settlement System, and Debt Management and Recovery. These discussions brought together various experts to provide insightful and informative talks.
Prominent speakers at the event included the Minister of Finance, Sheku Ahmed Fantamadi, the Governor of the Bank of Sierra Leone, Dr. Ibrahim Stevens, the President of WABA, Dr. Guy Laurent Fondjo, and the President of SLACB, Dr. Walton Ekundayo Gilpin.
The General Assembly also reviewed WABA’s financial accounting, annual audit reports, and the day-to-day operations of the Secretariat.
WABA, a pivotal force in the economic and financial integration of the ECOWAS region, continues to strengthen financial institutions and promote regional cooperation for sustainable development.
Addressing the challenges of economic instability and technological disruptions in the sub-region, Dr. Ibrahim Stevens emphasized the importance of collaboration. He noted that by pooling resources, knowledge, and expertise, the region can develop sustainable solutions. “We must invest in the development of human capital, equipping our workforce with the skills necessary to adapt to the evolving financial landscape,” said Dr. Stevens.
He also welcomed Guinea as the only French-speaking West African member of WABA, noting that its participation helps bridge the linguistic and cultural divide within the region. Dr. Stevens encouraged other West African states to collaborate with WABA, emphasizing that the region’s strength lies in unity and diversity.
Dr. Guy Laurent Fondjo, President of WABA, expressed gratitude to the hosts for their warm hospitality and meticulous arrangements. He also thanked international guests who traveled to support the collaborative spirit that underpins the Association.
Dr. Fondjo highlighted the theme of this year’s assembly, which focused on the critical challenges and opportunities facing the banking sector. He stressed the importance of economic growth, social equity, and environmental stewardship through innovative financial practices.
Newly elected WABA Vice President, Dr. Walton Ekundayo Gilpin, expressed his honor and humility in hosting this prestigious event. He acknowledged the collective efforts of the commercial banks in Sierra Leone and the instrumental support from the Bank of Sierra Leone in making the event possible.
“I extend my heartfelt gratitude to the Minister of Finance and Economic Development and the Governors of the Bank of Sierra Leone for their unwavering support. Your leadership has been invaluable in fostering a robust and resilient financial sector in Sierra Leone,” said Dr. Gilpin.
He also commended WABA’s leadership for their vision in organizing the event, noting the relevance of the theme, “Navigating the Future of Banking: ESG, Sustainability, and Digital Transformation.” Dr. Gilpin stressed that integrating sustainable practices and leveraging digital technology are not only opportunities for growth but essential for the survival of the banking sector in today’s rapidly changing global financial landscape.
Established in 1975, ECOWAS has been dedicated to creating an Economic and Monetary Union among its member countries. In line with this objective, the West African Monetary Agency (WAMA) was formed to…
